Karnalyte Resources (TSE:KRN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Karnalyte Resources Inc. (TSE:KRN) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$0.29 and traded as high as C$0.30. Karnalyte Resources shares last traded at C$0.30, with a volume of 2,018 shares.

Karnalyte Resources Stock Performance

The stock has a market cap of C$15.99 million, a PE ratio of -15.00 and a beta of -1.65. The firm’s 50-day moving average is C$0.29 and its 200 day moving average is C$0.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.40 and a current ratio of 2.86.

Karnalyte Resources (TSE:KRN) last issued its quarterly earnings data on Friday, August 14th. The company reported C$0.01 earnings per share (EPS) for the quarter.

About Karnalyte Resources

Karnalyte Resources Inc is a development stage company focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. It owns the construction ready Wynyard Potash Project, with planned phase 1 production of high grade granular potash, and two subsequent phases. It is also exploring the development of the Proteos Nitrogen Project, which is a proposed small-scale nitrogen fertilizer plant with a nameplate production capacity of approximately 700 metric tonnes per day of ammonia and approximately 1,200 MTPD of urea, and a target customer market of independent fertilizer wholesalers in Central Saskatchewan.